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The global household appliances market is expected to reach an estimated value of $324.2 billion by 2019. The major drivers of the household appliances industry are increase in per capita income, consumer spending, housing activities, and increasing urbanisation.
Within the assessment period, the APAC industrial dryer market is likely to outperform in the global industrial dryer market
Drying is an integral part of the process industry. Drying is used in the manufacturing of products. There are several industrial dryers available in the global market and they are vividly used in multiple industries. Flash dryer and Vacuum dryer are at a slow growing stage in the product lifecycle owing to limited use in the industry. On the other hand, Rotary dryers which find application in construction materials, minerals, chemical industries etc. have reached a maturity stage whereas Fluidized bed dryer and Spray dryer are at a growing stage of the product lifecycle. The average replacement rate of industrial dryers per year is expected to be around 7% to 9%. The global industrial dryer market was estimated to be valued at more than US$ 2,500 Mn by 2016 end and is expected to touch nearly US$ 3,415 Mn by the end of 2024, expanding at a CAGR of 3.5% over the forecast period. The global industrial dryer market is projected to represent incremental opportunity of more than US$ 830 Mn between 2016 and 2024.